Reading the wikipedia article on the St Petersburg paradox, that’s exactly the game tetronian2 has described.
A casino offers a game of chance for a single player in which a fair coin is tossed at each stage. The pot starts at 2 dollars and is doubled every time a head appears. The first time a tail appears, the game ends and the player wins whatever is in the pot. Thus the player wins 2 dollars if a tail appears on the first toss, 4 dollars if a head appears on the first toss and a tail on the second, 8 dollars if a head appears on the first two tosses and a tail on the third, 16 dollars if a head appears on the first three tosses and a tail on the fourth, and so on. In short, the player wins 2k dollars, where k equals number of tosses (k must be a whole number and greater than zero). What would be a fair price to pay the casino for entering the game?
Yep. I don’t think I was ever aware of the name; someone threw this puzzle at me in a job interview a while ago, so I figured I’d post it here for fun.
Reading the wikipedia article on the St Petersburg paradox, that’s exactly the game tetronian2 has described.
Yep. I don’t think I was ever aware of the name; someone threw this puzzle at me in a job interview a while ago, so I figured I’d post it here for fun.